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<br /> ORDINANCE N0o 997.
<br />
<br />AN ORDINANCE OF THE CITY OF SANTA ANA, CALIFORNIA,
<br />CALLING A SPECIAL ELECTION TO BE HELD IN SAID CITY
<br />ON THE 20TH DAY OF AUGUST, 1934, AND PROVIDING FOR
<br />THE SUBMISSION T0 THE QUALIFIED VOTERS OF SAID
<br />CITY OF THE PROPOSITION 0Y INCURRING INDEBTEDNESS
<br />IN THE AMOUNT OF,~e~ 250,00~0o00 FOR THE PURCHASE OF
<br />SERIAL IMPROVE~TENT BONDS IooUED FOR oTRLET, S~,'~R,
<br />DRAINAGE OR OTHER I~,!PROVE]&ENTS V,fITHIN THE CITY OF
<br />SANTA ANA AND PROVIDING FOR NOTICE OF SUCH
<br />ELECTION TO BE GIVEN,
<br />
<br /> W~KEREAS, the city council of the City of Santa Ana, California, at a regular
<br />meeting thereof duly held on the Z0th day of July, 195~, by a vote of more than two-
<br />thirds of its members, duly passed and adopted a resolution determining that the
<br />public interest and necessity demand the acquisition of serial improvement bonds
<br />issued for street or other improvements within the City of Santa Aha and finding that
<br />the acquisition of said serial improvement bonds is necessary and convenient to carry
<br />out the object, purpose and power of the City of Santa Aha, and that the cost of
<br />acquiring said serial improvement bonds is estimated to be the sum of two hundred and
<br />fifty thousand dollars (~80,000.00), and that the said sum of ~80~000.00 is and will
<br />be too great to be paid out of the ordinary annual income and revenue of said City of
<br />Santa Ana,~and further determining that the City of Santa Aha proceed under an act of
<br />the legislature of the State of California entitled "An act to authorize municipal
<br />corporations to issue bonds, for the ourpose of investing the proceeds arising from
<br />the sale thereof, in other bonds issued for public improvements." approved April 28.
<br />1909, to incur a bonded indebtedness in the principal sttm of $~0,000.00 to provide~
<br />a fund to be called a "General Improvement Fund" to be invested in said "Serial Improv®-
<br />merit Bond~"; and
<br />
<br /> V~IEREAS, the City of Santa Aha for street and other improvements made in said
<br />city has heretofore issued bon~s under "The Improvement Bond Act of 1918" to represent
<br />the assessments levied in said street or other improvement proceedings; and
<br />
<br /> V~EREAS, many of said assessments are unpaid and if the City of Santa Aha
<br />levied a tax during this fiscal year in such amount as would provide the funds necessary
<br />to pay the unpaid assessments, said tax would be onerous and difficult for the property
<br />owners in the City of Santa Aha to pay~ and the City of Santa Aha proposes to issue
<br />investment bonds of the City of Santa Aha under the said act approved April 28, 1909
<br />and use the proceeds of said investment bonds for the purchase of said bonds issued
<br />under the Improvement Bond Act of 1910 and thereby avoid the levy of an onerous tax
<br />during this fiscal year:
<br />
<br />NOW, THEREFORE, the council of the City of Santa Aha do ordain as follows:
<br />
<br /> Section 1. That a special election be held and the same is hereby called
<br />to be held in the City of Santa Aha on the 20th day of August, 19~ for the purpose
<br />of submitting to the qualified voters of said city the proposition of incurring an
<br />indebtedness and issuing bonds of said city therefor in the amount hereinafter set
<br />forth and for the object and purpose set forth in s aid resolution and hereinafter
<br />stated.
<br />
<br /> Section 2. That the object and purpose for which said indebtedness is
<br />proposed to be incurred and bonds issued therefor is to provide a fund in the treasury
<br />of the City of Santa Aha to be called a "General Improvement Fund," and said fund may
<br />be invested and reinvested in serial improvement bonds issued for street or other
<br />improvements within the City of Santa Ans. Said serial improvement bonds shall
<br />include bonds issued under the "Improvement Bond Act of 1915".
<br />
<br /> Section 5. That the amount of the principal of the proposed bonded indebtedne~
<br />to be incurred f~r the purpose of providing said "General Improvement Fund" is the sum
<br />of ~
<br /> .i~250,000.00. The maximum rate of interest to be paid on Said indebtedness shall
<br />be five per cent (~%) per annum, payable semi-annually.
<br />
<br /> That if the proposition for the incurring of said indebtedness for said
<br />purpose so submitted receives the requisite number of votes, to-wit, two-thirds of the
<br />votes of the qualified voters voting on such proposition, bonds of said city in not
<br />exceeding the principal amount stated in said proposition shall be issued and sold for
<br />the object and purpose set forth in said prop&sition and hereinabove stated.
<br />
<br /> Section 4. That the polls for said election shall be opened at six o'clock
<br />A.M. of the day of said election and shall remain open continuously from said time
<br />until seven o~clock P.M. of the same day when said polls shall be closed, provided,
<br />however, that if at the said hour of closing there are any voters in any polling place,
<br />or in line at the door thereof, who are qualified to vote and have not been able to
<br />do so since appearing, the polls thereat shall be kept open a sufficient time to
<br />enable them to vote, but no one who shal$ arrive at any polling place after seven
<br />o~clock P.E. of said day shall be entitled to vote, although the polls may be open when
<br />he arrives.
<br />
<br /> That on the ballots to be used at said special election, in addition to the
<br />other matters required by law, there shall be printed ~ubstantially the following:
<br />
<br />Mark Cross (X) on ballot ONLY ~ITH RUBBER STM~P; never with pen or pencil.
<br />
<br />INSTRUCTIONS TO VOTERS,
<br />
<br /> To vote on any question, proposition or constitutional amendment, stamp a
<br />Cross (X) in the voting square after the word "Yes" or after the word "No.~ All marks,
<br />
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